M&M gains on plan to invest Rs 8,000 crore at its automotive plants in Maharashtra

M&M is currently trading at Rs. 1206.15, up by 1.70 points or 0.14% from its previous closing of Rs. 1204.45 on the BSE.

The scrip opened at Rs. 1206.00 and has touched a high and low of Rs. 1208.10 and Rs. 1197.60 respectively. So far 1,861 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1441.45 on 07-Aug-2015 and a 52 week low of Rs. 1092.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1234.40 and Rs. 1092.00 respectively. The current market cap of the company is Rs. 74,506.00 crore.

The promoters holding in the company stood at 27.11% while Institutions and Non-Institutions held 59.22% and 13.68% respectively.

Mahindra & Mahindra (M&M), India’s leading automobile manufacturer, has announced its plans to make an investment of Rs 8,000 crore at the automotive plants in Maharashtra as part of its expansion plan shared earlier. The company has inked MoU with Maharashtra government for the same.

This investment will be made over a period of 7 years and will be utilized towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the company’s plants in Maharashtra. The projects will qualify as ‘Ultra Mega Project’.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.